Agreement Allows Worldwide Merchants to Accept Card Payments in Many of the World's Major Currencies
LONDON, April 5 /PRNewswire-FirstCall/ -- Global merchants can now benefit
from a one-stop solution for card transactions in international markets and
major currencies, thanks to a five-year merchant acquiring and processing
relationship between ABN AMRO and First Data Corp. (NYSE: FDC).
Under the agreement, First Data will deliver global payment processing
services to worldwide merchants, and ABN AMRO will provide merchants access
via its global transaction banking network to card and payment systems and
banking services throughout Europe, Asia Pacific and Latin America. It is
anticipated that the service will be rolled out from the second quarter of
2006 and fully implemented by 2007.
The agreement leverages ABN AMRO's global presence, scale and payments
expertise and First Data's processing capabilities, scale and flexible
processing platform, for the benefit of a mutual client base. Merchants will
also have access to ABN AMRO's full suite of transaction banking solutions,
including payments, treasury and investment management and trade services.
Ann Cairns, Chief Executive Officer, Transaction Banking at ABN AMRO said:
'First Data is a global leader in merchant acquiring and we are delighted to
partner with them in this venture, which provides a blueprint for cost
effective merchant acquiring and processing going forward.'
Pam Patsley, President, First Data International, said: 'In ABN AMRO we
have a true global partner to mutually grow our business, and provide
merchants with a solution that meets the evolving needs of conducting business
across borders. This strategic agreement strengthens our ability to offer
payment services to virtually anyone, anywhere and provides versatile payment
options for merchants worldwide.'
The agreement covers MasterCard and Visa transactions outside the United
States.
ABN AMRO will also be providing global treasury and funds transfer
services to First Data.
ABN AMRO
Netherlands-based ABN AMRO (NYSE: ABN) is a leading international bank
with total assets of EUR 880.8 bln (as at 31 December 2005). It has over
3,000 branches in more than 60 countries and territories, and has a staff of
over 96,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext
and the New York Stock Exchange.
ABN AMRO Transaction Banking delivers cash, trade and card products and
services to corporations and businesses, financial institutions, retail
customers and private clients globally.
